PriceSmart opens third club in Guatemala City; makes acquisition

San Diego-based PriceSmart Inc. (Nasdaq: PSMT) announced that on November 14, the company opened its third warehouse club in Guatemala City, Guatemala.

This brings to 24 the number of warehouse clubs in operation for the company. The opening of the company's 25th warehouse club, its third warehouse club in Trinidad, is currently scheduled for early December 2007.

PriceSmart also announced that on November 15, 2007 it acquired the company that had leased to it the real estate upon which the Barbados PriceSmart warehouse club is located, and assumed certain debt of that company, for the total consideration of $12 million.